Rangers Announce Interim Results

[martin93 136]

See if we don't need to and Johnston has basically said that we won't put the majority of the money towards the debt,where will it go? Or will,like others have said,keep it and see if we make a loss for the second part of the season?

Also does anyone know how can celtic afford to break even without Cl money and we can't? (I take it they can)

I dont think they can mate hence they anounced a deficit yesterday?

put simply, without CL income scottish football would be finished and the grim view is that come next season that bounty becomes very very hard even for the champions, to get their hand on?

Yeah that might be the case,i don't know anything about their profits or that tbh i just took it for granted that they could break even or w/e as i hear a lot about them being in a very healthy financial position compared to us but mabye they cant

[gogzy 31,195]

is this where we say "jog on declan"?

[GeneralCartmanLee 313]

The main thing i picked up on is... wouldn't commit if the debt was coming down, he just said we have a structure with the bank to pay £1million a year and we can operate within that.

Now that could mean the debt is still the same, or even higher than reported due to the interest surrounding this.

How could that possibly happen, our results are there for everyone to see..

The operating cost are down, but the overall debt isn't. As Alastair Johnston was saying we pay £1million a year to service the debt and we can operate within this structure.

Now if that's the case the overall debt will be growing with interest, and we are just paying the minimum amount to chip away at it.

Who said the overall debt wasn't down ? We paid less than a million to service the debt, around 680k. The one million reference was to the decrease in the borrowing facility to lloyds.

[Iserdo 1]

See if we don't need to and Johnston has basically said that we won't put the majority of the money towards the debt,where will it go? Or will,like others have said,keep it and see if we make a loss for the second part of the season?

Also does anyone know how can celtic afford to break even without Cl money and we can't? (I take it they can)

[/quote

That's the thing,septic haven't broke even.They have a loss of £3m plus.

[broxi51 48]

See if we don't need to and Johnston has basically said that we won't put the majority of the money towards the debt,where will it go? Or will,like others have said,keep it and see if we make a loss for the second part of the season?

Also does anyone know how can celtic afford to break even without Cl money and we can't? (I take it they can)

last season we had 2 cl qualications games and nothing else

this season celtic had 4 cl qualication games and 6 europa league games hence the big difference.

so we 1 home game and they had 5 home games in europe, meaning more income for celtic this season compared to us last season.

[outlaw69uk 123]

The main thing i picked up on is... wouldn't commit if the debt was coming down, he just said we have a structure with the bank to pay £1million a year and we can operate within that.

Now that could mean the debt is still the same, or even higher than reported due to the interest surrounding this.

How could that possibly happen, our results are there for everyone to see..

The operating cost are down, but the overall debt isn't. As Alastair Johnston was saying we pay £1million a year to service the debt and we can operate within this structure.

Now if that's the case the overall debt will be growing with interest, and we are just paying the minimum amount to chip away at it.

Or that a large part of the debt is actually in an agreement, mortgage/loan like. So, the agreement to pay £1 million a year is for that portion, and, will include interest as well as reducing the sum. If that is say, 2/3 of it, then, that would explain why it was mentioned in the Jan window that we had around £7million to "play with" if need be. In addition to that, paying a lump of it off could incurr penalties if it is an agreement

[Zappa 358]

Brilliant news, but nothing to be getting too carried away about. If these figures include estimations of money that we've still to receive such as Champions League cash, then it's not money in our possession yet, so not money that's currently helping our actual ins and outs and the day to day running of the club. Not trying to spoil the fun or anything, it just seems to me that these figures could actually be slightly misleading if some of this 'profit' won't actually be coming in for another few months. Maybe Boss or Bluedell could clarify the significance?

[william2408 0]

I asked the questions that u made yourself out to know the answers to? clearly you are less educated than Rangers finances than me?

What are you actually trying to say in this highlighted sentences ?

Is that called t**g English ?

Not far from it mate lol, what I was trying to say was! it would appear I am more educated on Rangers finances than you are my friend?

[william2408 0]

Brilliant news, but nothing to be getting too carried away about. If these figures include estimations of money that we've still to receive such as Champions League cash, then it's not money in our possession yet, so not money that's currently helping our actual ins and outs and the day to day running of the club. Not trying to spoil the fun or anything, it just seems to me that these figures could actually be slightly misleading if some of this 'profit' won't actually be coming in for another few months. Maybe Boss or Bluedell could clarify the significance?

Does the Cl cash not get payed in insallments and run into next season as well? regardless its all money in the bank ( pardon the pun )

[GeneralCartmanLee 313]

I asked the questions that u made yourself out to know the answers to? clearly you are less educated than Rangers finances than me?

What are you actually trying to say in this highlighted sentences ?

Is that called t**g English ?

Not far from it mate lol, what I was trying to say was! it would appear I am more educated on Rangers finances than you are my friend?

Are you educated at all...

[disgruntled_bear 157]

The main thing i picked up on is... wouldn't commit if the debt was coming down, he just said we have a structure with the bank to pay £1million a year and we can operate within that.

Now that could mean the debt is still the same, or even higher than reported due to the interest surrounding this.

How could that possibly happen, our results are there for everyone to see..

The operating cost are down, but the overall debt isn't. As Alastair Johnston was saying we pay £1million a year to service the debt and we can operate within this structure.

Now if that's the case the overall debt will be growing with interest, and we are just paying the minimum amount to chip away at it.

Who said the overall debt wasn't down ? We paid less than a million to service the debt, around 680k. The one million reference was to the decrease in the borrowing facility to lloyds.

I thought that's what we were debating, if not. Me and you are on the same page regarding this.

[Bluedell 14]

Brilliant news, but nothing to be getting too carried away about. If these figures include estimations of money that we've still to receive such as Champions League cash, then it's not money in our possession yet, so not money that's currently helping our actual ins and outs and the day to day running of the club. Not trying to spoil the fun or anything, it just seems to me that these figures could actually be slightly misleading if some of this 'profit' won't actually be coming in for another few months. Maybe Boss or Bluedell could clarify the significance?

It just means that we will get it in the future. We have accounted for the profit part of it, but not the actual cash in our bank account. It will just mean that our debt will decrease when received.

[TannochsideBear 355]

I'm glad to see the reported figures for the club, and a little surprised at quite how much of a jump we have had in both turnover and profit with only 3 CL group games against 1 CL qualifier being the main difference in our matches between the two periods.

I think you can safely say the CL is worth nearer to £15M to the SPL winners, should they qualify directly, and the runners-up fail to negotiate the qualifiers.

It is worth pointing out that our debt is not related to our profits directly, plus the wages are paid out evenly throughout the year (possibly even more in the second half of the year due to bonuses), but our CL income is in the first 6 months.

The big thing for me was that operating expenses have been reduced by over £3M compared to last year, and this would be mainly attributable to events put in place before Muir's arrival at the club, so overdoing the praise for him is not quite earned. I really want to see how the further cuts made since October impact on our full year results.

That will be the one figure I want to see above anything else, the Operating costs.

Our problem as a club historically is that our operating costs can only be met when we have CL football. Our turmoil is that now we do not have an owner who wants to stand as guarantor over this fluctuating marketplace, and our reformed business plan is to ensure we try to get our operating costs down to what we can generally expect to earn each season without European football.

Essentially, we are going back to where we were when Murray had his successful period at the club, when we budgeted to be knocked out of every tournament in the first round, so every bit of success could be re-invested.

This is the correct model for any business to run on, our problem is that our costs were so far in excess of our income that debt was the inevitable consequence.

We no longer have the support of the bank to operate our club with their money, and we have to get back to the days when we can break-even if we lose in the first round of every tournament.

That is not going to happen overnight, and the recession has not helped either, as bears losing their jobs is affecting attendances and businesses tightening their belts has affected sponsorship and hospitality income, so we are faced with a long road.

We just cannot, and will not, reduce our costs to a break-even point overnight. But it is the ultimate goal of those running the club at the moment, and for that I reluctantly support them. Reluctantly because of course I would rather we strengthened while we are on top, as we could knock Timmy out of sight with some astute investment just now, but we can't.

A new owner is really important, but just as important is a new vision of investments, income streams, supporter participation and marketing strategy. I am hoping that while we are in limbo waiting for this Consortium, or any other interested party out there, our current board are working really hard not just on fire-fighting, but on forward-thinking development.

We cant afford to wait around while the money men play this out like two old whisky-soaked gunslingers at the OK Corral at high noon, waiting for the other to twitch, we live and breath this club, and we want to stay ahead of our rivals and have good times ahead.

[Chef 436]

Sorry, gotta be said and ban me if ya wish, william you are a fanny mate, really are, you question peoples opinions like they are gospel, look to discredit people in a way you leave open questions prompting a reply, only to attack that reply. are you a rangers fan looking to cause trouble between other fans or are you just as i think you are, IMO, a fanny.

im sorry to the rm community if this is wrong but i say it as i see it, i usually take instant dislikes and i think fanny is a bad yin. it really does my napper in.

[Geronimole 0]

Amazing to think that one half of the city were planning a party for the demise of Glassgow Rangers fc and now the trend has reversed and the wallopers who put all their eggs in the one basket must be shittin a few F***** bricks at hearing that news. If they dont secure champions league money and with half their squad returning to their respective clubs where will they find the money to buy? They only have Aids left to sell. To me I have enjoyed all the highs and lows since Barcelona 72 but this will be one of the sweetest and most important title ever

[gogzy 31,195]

i wish i hadnt fucked about and used all my negative rep yesterday

[GeneralCartmanLee 313]

The main thing i picked up on is... wouldn't commit if the debt was coming down, he just said we have a structure with the bank to pay £1million a year and we can operate within that.

Now that could mean the debt is still the same, or even higher than reported due to the interest surrounding this.

How could that possibly happen, our results are there for everyone to see..

The operating cost are down, but the overall debt isn't. As Alastair Johnston was saying we pay £1million a year to service the debt and we can operate within this structure.

Now if that's the case the overall debt will be growing with interest, and we are just paying the minimum amount to chip away at it.

Who said the overall debt wasn't down ? We paid le

ss than a million to service the debt, around 680k. The one million reference was to the decrease in the borrowing facility to lloyds.

I thought that's what we were debating, if not. Me and you are on the same page regarding this.

[derekweir29 505]

great news so does that reduce the debt slightly

[outlaw69uk 123]

I'm glad to see the reported figures for the club, and a little surprised at quite how much of a jump we have had in both turnover and profit with only 3 CL group games against 1 CL qualifier being the main difference in our matches between the two periods.

I think you can safely say the CL is worth nearer to £15M to the SPL winners, should they qualify directly, and the runners-up fail to negotiate the qualifiers.

It is worth pointing out that our debt is not related to our profits directly, plus the wages are paid out evenly throughout the year (possibly even more in the second half of the year due to bonuses), but our CL income is in the first 6 months.

The big thing for me was that operating expenses have been reduced by over £3M compared to last year, and this would be mainly attributable to events put in place before Muir's arrival at the club, so overdoing the praise for him is not quite earned. I really want to see how the further cuts made since October impact on our full year results.

That will be the one figure I want to see above anything else, the Operating costs.

Our problem as a club historically is that our operating costs can only be met when we have CL football. Our turmoil is that now we do not have an owner who wants to stand as guarantor over this fluctuating marketplace, and our reformed business plan is to ensure we try to get our operating costs down to what we can generally expect to earn each season without European football.

Essentially, we are going back to where we were when Murray had his successful period at the club, when we budgeted to be knocked out of every tournament in the first round, so every bit of success could be re-invested.

This is the correct model for any business to run on, our problem is that our costs were so far in excess of our income that debt was the inevitable consequence.

We no longer have the support of the bank to operate our club with their money, and we have to get back to the days when we can break-even if we lose in the first round of every tournament.

That is not going to happen overnight, and the recession has not helped either, as bears losing their jobs is affecting attendances and businesses tightening their belts has affected sponsorship and hospitality income, so we are faced with a long road.

We just cannot, and will not, reduce our costs to a break-even point overnight. But it is the ultimate goal of those running the club at the moment, and for that I reluctantly support them. Reluctantly because of course I would rather we strengthened while we are on top, as we could knock Timmy out of sight with some astute investment just now, but we can't.

A new owner is really important, but just as important is a new vision of investments, income streams, supporter participation and marketing strategy. I am hoping that while we are in limbo waiting for this Consortium, or any other interested party out there, our current board are working really hard not just on fire-fighting, but on forward-thinking development.

We cant afford to wait around while the money men play this out like two old whisky-soaked gunslingers at the OK Corral at high noon, waiting for the other to twitch, we live and breath this club, and we want to stay ahead of our rivals and have good times ahead.

I think that is the way forward, makes a lot of sense.

I dont think we actually need to invest to disapear over the hill from the scum, since, essentially, they are investing themselves to put themselves further behind (probably not their intention, but, certainly the result haha). We could, essentially, keep doing what we are doing currently, and, keep adding a couple youngsters in, and, hit 4-5 in a row against these other teams. We wouldnt get far in Europe really, but, at the same time, our finances would benefit greatly, and, there would be a decent chance at a run like Manchester. It goes against my views for what our goals should be, but, at the same time, seems sensible

[Zappa 358]

Brilliant news, but nothing to be getting too carried away about. If these figures include estimations of money that we've still to receive such as Champions League cash, then it's not money in our possession yet, so not money that's currently helping our actual ins and outs and the day to day running of the club. Not trying to spoil the fun or anything, it just seems to me that these figures could actually be slightly misleading if some of this 'profit' won't actually be coming in for another few months. Maybe Boss or Bluedell could clarify the significance?

It just means that we will get it in the future. We have accounted for the profit part of it, but not the actual cash in our bank account. It will just mean that our debt will decrease when received.

Right, thanks BD. So, is there no real significance? When we're talking about figures like £5m (just for example) then surely it's fair to say that we'd be better off already having that money to reduce our interest payments day to day now than it sitting in someone else's account making them money? Ok, we'll get it eventually, but our situation could be even better by having now surely?

[jimgers 565]

The main thing i picked up on is... Alastair Johnston wouldn't commit if the debt was coming down, he just said we have a structure with the bank to pay £1million a year and we can operate within that.

Now that could mean the debt is still the same, or even higher than reported due to the interest surrounding this.

How could that possibly happen, our results are there for everyone to see..

I don't think the debt is being reduced by any amount? it is merely being serviced? from a Murray/Muir only point of view, why throw good money after bad? if these interim results are carried through to year end. Muir will already have earned himself a nice wee bonus here on those results. Why draw up a winning horse by paying large amounts towards the debt thus changing profit into a loss? and beside (if rumours are true of a future takeover) why not let any prospective buyers take care of the debt????

[Chef 436]

The main thing i picked up on is... Alastair Johnston wouldn't commit if the debt was coming down, he just said we have a structure with the bank to pay £1million a year and we can operate within that.

Now that could mean the debt is still the same, or even higher than reported due to the interest surrounding this.

How could that possibly happen, our results are there for everyone to see..

I don't think the debt is being reduced by any amount? it is merely being serviced? from a Murray/Muir only point of view, why through good money after bad? if these interim results are carried through to year end. Muir will already have earned himself a nice wee bonus here on those results. Why draw up a winning horse by paying large amounts towards the debt thus changing profit into a loss? and beside (if rumours are true of a future takeover) why not let any prospective buyers take care of the debt????

what bonus? reveal all plz

[TheWholeStruth 7]

TannochsideBear,

An excellent balanced post mate. You should forward that to be put out on the main page/Newsnow.

[derekweir29 505]

Burnley Celt 23 minutes ago Post #2042

Another day, another 8 grand..........

Group:

Snr. Member

Smoke makes you cough.

Mirrors can show you in a flattering or unflattering light.

Put them together and the future is rosy or the future is orange.

Figures are utter pish. Get them audited!!!

smokeandmirrorsrfc

Do u not just hate the fienian bastards

[DavieMacRFC 850]

Whatever way we look at this it's got to be good news and as long as the team are still performing and we are still able to win the treble then it's a damn site better than it was as we look for a prospective buyer !!!